Bhadora Industries IPO

About Bhadora Industries IPO

Bhadora Industries IPO is a book-built issue worth ₹55.62 crore. The IPO consists entirely of a fresh issue of 54.00 lakh equity shares. The IPO opens for subscription on August 4, 2025, and closes on August 6, 2025. The allotment is expected to be finalised on August 7, 2025, with tentative listing on NSE SME scheduled for August 11, 2025.

The IPO is priced in a band of ₹97 - ₹103 per share. Retail investors must apply for a minimum of 2 lots comprising 2,400 shares, requiring an investment of ₹2,47,200 at the upper price band. HNI investors must apply for a minimum of 3 lots (3,600 shares), amounting to ₹3,70,800.

Unistone Capital Private Limited is the book-running lead manager to the issue, and MUFG Intime India Private Limited (Formerly known as Link Intime India Private Limited) is the registrar. NNM Securities Private Limited is the market maker for this IPO.

For detailed information on company financials, business operations, and associated risks, investors are advised to refer to the Bhadora Industries IPO RHP.

Industry Outlook

1. India’s wires and cables (W&C) sector is undergoing a significant transformation, driven by the country’s rapid infrastructure development, energy transition, and digitalisation efforts. The sector plays a pivotal role in enabling reliable power transmission, telecommunications, and industrial connectivity across diverse applications.
2. The domestic market is witnessing robust growth, underpinned by increasing investments in smart grid projects and the modernisation of power transmission and distribution systems. These initiatives are essential for integrating renewable energy sources and enhancing the efficiency of India’s electricity network. The government’s strategic focus on smart grids and sustainable energy infrastructure is expected to fuel long-term demand for high-performance cables.
3. Globally, the cable industry is projected to expand from approximately $250 billion in FY 2022–23 to $410 billion by FY 2029–30. Indian manufacturers are well-positioned to capitalise on this growth, particularly in developed markets such as Europe and North America, where infrastructure upgrades and the shift towards green energy are creating sustained demand. Indian firms, with their competitive pricing and adaptability to evolving technological standards, are emerging as reliable suppliers in these regions.
4. Emerging markets across Asia, Africa, and Latin America are also driving demand, spurred by urbanisation, population growth, and economic development. Indian W&C companies can tap into these opportunities by offering cost-effective, locally tailored solutions.

Bhadora Industries IPO Objectives

The company proposes to utilise the net proceeds from the IPO for the following objectives:

1. The company intends to part-finance the establishment of a new manufacturing facility at Village Panwa, Tehsil Kasrawad, District Khargone, Madhya Pradesh. This facility will enhance production capabilities for industrial cables and conductors, supporting the company’s long-term growth and diversification plans. The investment includes land acquisition, civil construction, and installation of advanced machinery tailored to high-performance cable manufacturing.
2. A portion of the proceeds will be allocated towards strengthening the company’s working capital base. This will ensure uninterrupted operations, improved inventory management, and timely fulfilment of customer orders, thereby enhancing operational efficiency and responsiveness to market demand.
3. The remaining funds will be directed towards general corporate purposes, including administrative expenses, brand development, and strategic initiatives aimed at reinforcing Bhadora Industries’ market presence and organisational resilience.
4. The listing of equity shares on the NSE Emerge platform is expected to elevate the company’s corporate visibility, improve governance standards, and facilitate access to capital markets. This move is anticipated to foster investor confidence and unlock future growth opportunities through strategic partnerships and collaborations.

About Bhadora Industries Limited

Bhadora Industries Limited was originally incorporated as Bhadora Industries Private Limited on May 17, 2013, under the Companies Act, 1956. The company was subsequently converted into a public limited entity and renamed Bhadora Industries Limited on August 07, 2024, following shareholder and board approvals.

The company is engaged in the manufacturing of premium industrial and power cables under the brand name “Vidhut Cables”. Its product portfolio includes Polyvinyl Chloride (PVC) cables, Low Voltage (LV) cables, LT Aerial Bunched Cables, and Cross-Linked Polyethylene (XLPE) cables. These products are designed to support efficient electricity transmission and distribution across government DISCOMs and Engineering, Procurement and Construction (EPC) companies, serving a wide array of industrial sectors.

Bhadora Industries operates a dedicated manufacturing facility located at 4 S.U. Industrial Estate, Dhonga, Tikamgarh, Madhya Pradesh. With over three decades of experience in the cable industry, the company has evolved to meet the dynamic requirements of the sector, consistently adhering to industry standards for safety, performance, and technological relevance.

The company’s registered office is situated in Indore, Madhya Pradesh, and its operations are primarily focused within India. Bhadora Industries has demonstrated strong financial growth, with revenue from operations increasing from ₹1,844.03 lakhs in Fiscal 2023 to ₹11,011.18 lakhs in Fiscal 2025, reflecting a compound annual growth rate (CAGR) of 144.36%.

How To Check the Allotment Status of the Bhadora Industries IPO?

Steps to check IPO allotment status on Angel One’s app:

1. Log in to the Angel One app.
2. Go to the IPO Section and then to IPO Orders.
3. Select the individual IPO that you had applied for and check the allotment status.
4. Angel One will notify you of your IPO allotment status via push notification and email.

How To Apply for Bhadora Industries IPO Online?

1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
3. Select IPO: Find and select the Bhadora Industries IPO from the list of open IPOs.
4. Enter the Lot Size: Specify the number of lots you want to bid for.
5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of Bhadora Industries IPO

Registered Office: Office No. 505, Plot No. 39.405, NRK Biz Park, PU-4, Scheme No. 54, DDU Nagar, Indore – 452010, Madhya Pradesh, India.

Phone: +91 70000 61995
E-mail: cs@vidhutcables.com

Bhadora Industries IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 50.00% of the Net Issue
Retail Shares Offered	Not less than 35.00% of the Net Issue
NII Shares Offered	Not more than 15% of the Net Issue

Bhadora Industries IPO Lot Size

Application	Lots	Shares	Amount
Individual investors (Retail) (Min)	2	2,400	₹2,47,200
Individual investors (Retail) (Max)	2	2,400	₹2,47,200
S-HNI (Min)	3	3,600	₹3,70,800
S-HNI (Max)	8	9,600	₹9,88,800
B-HNI (Min)	9	10,800	₹11,12,400

Bhadora Industries IPO Promoter Holding

The promoters of the company are Shashank Bhadora, Pradeep Bhadora and Anil Bhadora.

Share Holding Pre-Issue	92.42%
Share Holding Post Issue	65.59%

Key Performance Indicators for Bhadora Industries IPO

The market capitalisation of Bhadora Industries IPO is ₹191.58 Cr. Here are the KPIs of Bhadora Industries:

KPI	Value
Operating EBITDA Margin (%)	15.42
Net Profit Margin (%)	9.80
Return on Equity (ROE) (%)	51.51
Return on Capital Employed (ROCE) (%)	42.41

Bhadora Industries IPO Prospectus

• Bhadora Industries IPO DRHP
• Bhadora Industries IPO RHP

Bhadora Industries IPO Registrar and Lead Managers

Bhadora Industries IPO Lead Managers

• Unistone Capital Private Limited

Registrar for Bhadora Industries IPO

MUFG Intime India Private Limited (Formerly known as Link Intime India Private Limited)

• Contact Number: +91 810 811 4949
• Email Address: ipo@linkintime.co.in

Bhadora Industries IPO Registrar